STOCKS | Intel Rallies After Saying It Will Cut More Jobs
Intel confirmed further job cuts in its data center group, its fastest-growing unit, which posted $5 billion of revenue last quarter, up 22% year over year. The stock rose about 8% in early trading; headcount has fallen from a 2022 peak of 132,000 to 83,200 with a target near 75,000 by year-end.
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